Courtyard by Marriott Edmonton Downtown

news article

Courtyard by Marriott Edmonton Downtown

Sales Date: March 2011
Keys: 178
Price: $26,000,000
Client: Concord Hospitality Enterprises JV Lubert Adler Real Estate Funds
Buyer: MIG Real Estate, LLC
Cap Rate: 8.5%

Colliers International Hotels acted as joint advisor in the sale of the 177-room Courtyard by Marriott Edmonton Downtown. The Property generated significant interest from local, regional and national buyers, and after a two-round competitive bid process, the selected buyer was a US-based MIG Real Estate, LLC (one of two cross-border buyers for 2011 — both of which were represented by Colliers). The purchaser retained the existing manager, Concord Hospitality Enterprises. This leading select-service hotel in downtown Edmonton is located on Jasper Street, a heavily traveled route in Edmonton’s Central Business District, and on an in-fill location along the North Saskatchewan River offering pristine views of the river and downtown Edmonton skyline. Selling at $147,000 per room this transaction marked the start of many Canadian select-service sales that followed in 2011.


Pour plus d’informations, veuillez contacter:

Russell Beaudry

Senior Director | Hotels

Vancouver

- A key member of the Canadian hotel team (over 250 lodging transactions completed across Canada since 2010) 
- Notable assignments include: St. Regis Toronto / Park Hyatt Toronto / Rosewood Hotel Georgia Vancouver / Fairmont Chateau Laurier Ottawa
- Skilled with land development and mixed-use projects including office, retail and residential

Voir l'expert